Here and elsewhere, the economic policy of laissez-faire is described as “trickle-down” theory. One way to turn the tables on this old canard is to describe the welfare state as based on a “trickle down” theory. Vast amounts of tax revenue are transferred to a gigantic, swollen, wealthy, bureaucratic, inefficient, monolithic state in the naive hope that enough of this revenue will trickle down to the poor and needy.
Posted by Roderick T. Long
Comments on this entry are closed.